Impacts of Macroeconomic Indicators on Economic Growth in Southeast Asia: A Panel Data Analysis
Impacts of Macroeconomic Indicators on Economic Growth in Southeast Asia: A Panel Data Analysis

Summary/Abstract: The article explores influences of macroeconomic indicators on economic growth in six developing countries in Southeast Asia for the past two decades (1997-2016) by employing a panel dataset. In both fixed-effect and random effect models, we found that export value and value added of manufacturing have positive influences on economic growth, while import value presents a negative and significant impact on economic growth in Southeast Asia. Our results also demonstrated that during the period of 1997-2016, economic growth of Indonesia was slower than that of its counterparts. However, in the same period, economic growth of Viet- nam was faster than that of other countries in the region. For the fixed-effect model, we found that the unemployment rate presents a positive relationship with economic growth in Southeast Asia. Finally, fiscal and monetary policies are recommended to achieve targets in economic growth and sustainable development in Southeast Asia

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